TMI BlogSpecial provision relating to incomes of political partiesX X X X Extracts X X X X X X X X Extracts X X X X ..... Capital gains or ] any income by way of voluntary contributions received by a political party from any person shall not be included in the total income of the previous year of such political party : Provided that- ( a ) such political party keeps and maintains such books of account and other documents as would enable the 4 [ Assessing ] Officer to properly deduce its income therefrom; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Explanation . For the purposes of this proviso, electoral bond means a bond referred to in the Explanation to sub-section (3) of. section 31 of the Reserve Bank of India Act, 1934: ; (2 of 1934)] 6 [Provided further that if the treasurer of such political party or any other person authorised by that political party in this behalf fails to submit a report under sub-section (3) of sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8, w.e.f. 1-4-1989. 3. Inserted by the Finance Act, 2003, w.r.e.f. 1-4-1979. 4. Substituted for Income-tax by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 5. Substituted for ten by the Election and Other Related Laws (Amendment) Act, 2003, w.e.f. 11-9-2003. 6. Inserted by the Election and Other Related Laws (Amendment) Act, 2003, w.e.f. 11-9-2003. 7. Sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .f. 1st day of April, 2018 11. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018 12. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018 13. Substituted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-04-2020 before it was read as bank account - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Manage ..... X X X X Extracts X X X X X X X X Extracts X X X X
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